Digging Me Some DUG
- Posted by UpsideTrader
- on December 27th, 2008
I traded DUG back when oil was at the bubble with some success. DUG is a weird one for sure, and I learned early from trading the name that its success was more correlated to the the weakness in XOM and CVX than what the actual price of crude was doing. Many days I made money in DUG even though crude was rallying higher. Why? Well, XOM and CVX were getting crushed for whatever reason. So I took a look at CVX and XOM and I think both charts could have problems going forward so I will have DUG on my radar.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Joe was on Wall St, for twenty five years and his career took him to the retail, institutional and capital markets... More »
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